Gas is often a considerable expense for businesses of all sizes and across industries. Whether your business model includes maintaining a fleet of vehicles that are always on the move, or your employees need to travel regularly to meet with clients and lock down sales or secure strategic partnerships, it’s important to ensure that fuel costs are being optimized wherever possible.
This could mean anything from achieving better oversight and management of how and where employees spend money on gas, to finding a unique rewards program that allows your business to truly benefit from each transaction. In either case, integrating a business credit card designed specifically for fuel and travel expenses is likely the way to go.
In this article, we’ll outline what to look for (and what to avoid) in a business credit card for gas, in addition to highlighting 10 of the best available options in 2023.
What to look for in a business credit card for gas
Before choosing a business credit card for fuel purchases, it’s important to establish exactly what benefits you’re looking for in the context of your operation. And beyond satisfying your unique business needs, it’s simply always wise to understand what constitutes an excellent business credit card more broadly. Here are just a few areas to focus on:
Rewards
Integrating a business credit card with an attractive rewards program is a top priority for most businesses, and for good reason. After all, when you’re making repeated business purchases, why not get a little more back than what you’ve paid for?
When it comes to business gas cards, you’ll likely want to find a card that offers straightforward rewards in the form of cashback on each transaction. Depending on your business model and individual preferences, however, you might want to find a gas credit card that maximizes rewards based on purchases with a specific fuel provider, or one that offers additional perks that your team may value, such as luxury travel benefits.
Low annual fees
Keeping monthly or annual card fees to a minimum is a good rule of thumb when choosing a business credit card. If you’re lucky, you may even find a card issuer with no fees that also meets your specific rewards criteria. However, if this doesn’t turn out to be the case, make sure you’re comparing the fees of cards with similar benefits so you don’t end up paying more than you should.
Expense management and spend control features
In recent years, platforms like Ramp have introduced an alternative, modernized business credit card solutions that not only allow companies to take advantage of traditional rewards programs, but also provide sophisticated accounting, expense management, and spend control features.
Alternative solutions like this can be an excellent choice for small businesses and startups that need both access to capital and easier ways to manage expenses and protect their bottom line.
Business credit card features to avoid
Just as there are positive attributes to look for when choosing a business credit card, there are certain features that should almost always be avoided. Here are just a few red flags to be aware of when deciding on a fuel card for your business.
Limited qualifying vendors
Unless you already have an agreement or membership with a particular fuel provider, your employees will likely be stopping to fill their tanks at a variety of different gas stations throughout the country. If this is the case, it’s important to ensure that the business credit card you’re integrating doesn’t limit purchases or rewards to a specific vendor.
When qualifying merchants are limited, you’ll likely end up minimizing cashback on purchases, or even put your drivers in a tough position if they’re traveling in an area in which the specified merchant doesn’t operate.
High-interest rates/late fees
Interest rates are pretty much unavoidable with the exception of charge cards, but it’s still incredibly important to do your due diligence to ensure you’re not committing to a higher APR than normal. Similarly, you’ll want to look out for extraordinarily high late fees or other related costs, and again compare all options to be absolutely sure you’re being provided with a fair rate.
Lack of transparency
There’s nothing worse than being hit with a charge that you didn’t expect, and hidden fees or misleading language in small business credit card agreements are unfortunately not uncommon. Before committing to a specific business fuel card, be sure that its features, rewards program, and fee structure is clearly communicated, and seek clarification on any language that seems confusing or out of the ordinary.
After all, integrating a business credit card into your expense management process is ultimately an investment, and it’s simply never a good idea to invest in anything that you don’t completely understand.
The 10 best gas cards for businesses
There are an overwhelming amount of options to consider when deciding on a business credit card for fuel purchases. However, rather than be intimidated by the sheer variety of available cards on the market, remember that by taking your time to evaluate the features of each offering, you’re likely to discover a solution that integrates perfectly with individual business model and meets your specific requirements.
That being said, narrowing down your options to a handful of well-reviewed credit cards and rewards programs can be extremely beneficial. To help with this process, we’ve compiled the following list of 10 high-ranking business credit cards with unique rewards for gas and fuel purchases that we believe are worth considering:
1. Ramp
Annual fee: $0
Intro APR: N/A
Regular APR: N/A
Credit score needed: Good to Excellent
The Ramp Business Card represents the next generation of advanced expense management solutions for small businesses and startups. Rather than offering tiered rewards limited to a specific category, account holders will earn an unlimited, unrestricted 1.5% cashback on all purchases including gas and EV charging, no questions asked.
But what makes the Ramp card a truly unique business card for gas is its ability to generate cost savings not only at the level of cashback rewards but by providing businesses with all the tools needed to improve expense management and accounting processes—from automated bill pay and real-time reporting, to easily customizable and enforceable spend controls. Moreover, businesses can add employees to the account at any point in time and can opt for digital or custom-branded physical cards at no additional charge.
It should be mentioned, however, that the Ramp card is a charge card and balances will need to be paid in full each month. And even though Ramp offers exceptionally flexible credit limits, with an eye toward boosting the growth capacity of smaller companies and startups, this won’t necessarily be the appropriate financing model for all businesses. Separately, those who are absolutely intent on earning points-driven travel perks rather than unlimited cashback may ultimately prefer a different rewards structure.
Pros:
No annual fees or foreign transaction fees
Unlimited cashback rewards
Easily track, control, and manage expenses
Intuitive accounting integrations
Cons:
Full balance due each month
No airline/hotel perks
2. American Express Business Gold Card
Annual fee: $295
Intro APR: N/A
Regular APR: 17.24% - 25.24%
Credit score needed: Excellent
The American Express Business Gold Card offers 4X rewards on every $1 spent on purchases that fall into the top two spending categories of your business—including gas. Cardholders can also earn 1X membership points on all other purchases, and enjoy a welcome bonus of 700,000 points after spending $10,000 on eligible purchases within the first 3 months.
Other benefits include bonus travel perks (such as a 25% rebate on flights when you redeem membership points for air travel), a low-to-average variable interest rate of 17.24% to 25.24%, and a number of valuable protections including travel delay, baggage, and car rental insurance.
On the downside, AmEx Gold has a spending cap on certain bonus rewards, and the overall rewards structure can be relatively complicated to navigate. Moreover, despite a sizable annual fee of $295, the card has an extremely limited offering of VIP/luxury travel perks.
Pros:
Generous rewards on fuel purchases
Bonus category perks
Purchase protections and travel insurance
Cons:
High annual fee
Spending cap on bonus rewards
Limited VIP/luxury perks
3. Capital One Spark Cash Plus Business Card
Annual fee: $150
Intro APR: N/A
Regular APR: N/A
Credit score needed: Excellent
The Capital One Spark Cash Plus card does away with category-specific rewards in favor of offering 2% cashback on all purchases, with no hidden limits, restrictions, or expiration dates. It also gives businesses the opportunity to earn up to $1,000 as a welcome bonus ($500 for spending $5,000 within the first 3 months of membership, and an additional $500 for spending $50,000 within the first 6 months.)
As a charge card rather than a traditional credit card, Capital One’s Spark Cash Plus has no annual interest rate and no preset sending limit. Instead, businesses using this card can have the spending limits adjusted as they go based on their overall credit profile and payment history. Other benefits include unlimited 5% cashback on rental cars and lodging when booked through Capital One Travel, and the ability to easily add employee cards with no additional costs and no alteration to the rewards structure.
As far as the pitfalls, the card does come with an annual fee of $150, and while this might not seem like a high price to pay for 2% cashback, there are a number of other business cards on the market offering similar perks and that don’t charge annual fees. Moreover, because the Spark Cash Plus is a charge card, businesses will need to be sure that they can pay their balance in full each month, or otherwise be comfortable with the risk of taking on late fees and potential negative impacts to their credit score.
Pros:
Unlimited cashback rewards
Easy to add employee cards at no additional cost
Bonus travel perks
Cons:
Annual fee
Full balance due each month
4. Costco Anywhere Visa Business Card by Citi
Annual fee: $0
Intro APR: N/A
Regular APR: 18.24% (variable)
Credit score needed: Good to Excellent
For small businesses that already rely on their Costco memberships to purchase supplies in bulk, the Costco Anywhere Visa Business Card by Citi may potentially be a good fit. The card comes without an annual fee and doesn’t charge fees on foreign transactions while offering generous rewards rates across multiple categories, including 2% cashback on Costco purchases, 3% back on travel and dining expenses, and 4% back on fuel and EV charging from the majority of gas stations around the U.S. In addition to cashback perks, businesses that continue to use the card will also receive an annual credit card certificate that can be exchanged for either cash or merchandise from Costco’s warehouses.
On the negative side, you’ll need to have a Costco membership to take advantage of the 2% cashback on purchases at Costco stores, which is not included when you sign up for the card. There are also strict spending caps on fuel rewards, with the 4% cashback being downgraded to 1% after spending $7,000 each year, which is likely to be a dealbreaker for businesses with higher-than-normal fuel costs. Moreover, Costco doesn’t offer any attractive welcome perks or intro APR bonuses, so you’ll need to be comfortable accepting an ordinary, variable interest rate of 18.24%.
Pros:
No annual fee
No foreign transaction fees
High rewards rate on travel and fuel expenses
Cons:
Spending cap on fuel rewards
Costco membership not included
No intro APR/welcome bonus
5. Shell Small Business Card
Annual fee: $0
Intro APR: N/A
Regular APR: 23% - 26% (variable)
Credit score needed: Fair to Good
For business owners looking to integrate a fuel or fleet business card with no personal guarantee, the Shell Small Business Card can be an option. The card comes with no annual fees and allows businesses to cash in on a fuel rebate of up to 6 cents per gallon, in addition to discounts at eligible Jiffy Lube locations. It also lends a hand to the expense management process by providing access to online account management and spend control tools.
However, businesses should keep in mind that the card offers very few rewards beyond its fuel rebate, and will only be accepted for purchases at Shell gas stations and eligible Jiffy Lube locations. Moreover, fuel savings come with a strict cap of $300 per billing cycle, and the card’s variable interest rate sits on the higher end of the spectrum at 23% to 26% APR.
Pros:
No annual fee
No personal guarantee
Online account management tools
Cons:
Cap on fuel savings
Purchases/rewards limited to Shell Stations and Jiffy Lube
6. U.S. Bank Business Triple Cash Rewards World Elite Mastercard
Annual fee: $0
Intro APR: 0% on purchases and balance transfers for first 15 billing cycles
Regular APR: 16.99% - 25.99% (variable)
Credit score needed: Good to Excellent
U.S. Bank’s Business Triple Cash Rewards World Elite Mastercard provides unlimited 3% cashback on fuel purchases, 5% cashback on hotels and car rentals when booked in their Travel Rewards Center, and 1% cashback on all other eligible purchases. There are no spending caps and rewards earned on purchases never expire.
This business credit card has no annual fees and some welcome perks, such as $500 in cashback after spending just $4,500 within the first 150 days of account opening, and an 0% introductory APR on both purchases and balance transfers. Moreover, the introductory APR will remain in effect for a lengthy period of the first 15 billing cycles, after which cardholders will be subject to a variable interest rate of 16.99% to 25.99%.
On the downside, U.S. bank does charge up to a 3% fee on balance transfers or a minimum $5 fee (whichever is greater), in addition to another 3% fee on foreign transactions. These fees can add up considerably over time, particularly for businesses traveling out of the country on a regular basis.
Pros:
No annual fee
High rewards rate
Generous welcome bonus/intro APR
Cons:
Foreign transaction fees
Balance transfer fees
7. Bank of America Business Advantage Customized Cash Rewards Mastercard
Annual fee: $0
Intro APR: 0% on purchases for first 9 billing cycles
Regular APR: 15.24% - 25.24% (variable)
Credit score needed: Excellent
Those already doing business with Bank of America may find an option in the Bank of America Business Advantage Customized Cash Rewards Mastercard. In addition to charging no annual fee, businesses can earn 3% cashback on the category of their choice (including gas purchases), 2% cashback on dining, and an unlimited 1% cashback on all other eligible transactions.
The card also features a modest welcome bonus of $300 after spending $3,000 in the first 90 days, as well as a 0% intro APR on purchases for the first 9 billing cycles, after which a variable interest rate of 15.24% to 25.24% will be applied. Separately, businesses that already have a business checking account with BofA, and that qualify for the bank’s Business Tier Preferred Rewards Program have a chance to boost their rewards by as much as 75%, which includes an upgrade to 5.25% cashback on their selected category.
However, there are some drawbacks worth mentioning, such as a 3% fee on foreign transactions, as well as a spending cap on rewards that kicks in after spending $50,000 each year, reducing cashback rewards to 1% on all purchases. Additionally, some may find the card’s overall rewards structure to be slightly complicated, and customization may prove challenging for businesses with constantly shifting spending habits, or that tend to have an equal distribution of expenses across categories.
Pros:
No annual fee
High rewards rate
Generous intro APR
Cons:
Foreign transaction fees
Complicated rewards structure
Spending caps on rewards
8.Ink Business Cash Credit Card
Annual fee: $0
Intro APR: 0% on purchases for first 12 months
Regular APR: 15.49% - 21.49%
Credit score needed: Good to Excellent
The Ink Business Cash Credit Card from Chase is a solid offering for small businesses looking for an option with no annual fee, and a chance to earn cashback rewards both in the office and on the road. More specifically, the card offers a 5% cashback on office supply purchases as well as internet, cable, and phone services, in addition to 2% cashback on gas and dining and 1% back on all other eligible purchases.
Chase offers a $750 cashback welcome bonus to new account holders after spending $7,500 or more within the first 3 months of membership. The card also comes with an introductory 0% APR on purchases for the first 12 months, followed by a variable rate of 15.49% to 21.49%.
Despite the above benefits, Chase’s card may not be the best for businesses that spend considerably more on gas than they do on office supplies or internet bills, as it will be difficult to make the most of their top rewards category. Moreover, the card has a spending cap on rewards that kicks in relatively quickly after account holders spend $25,000 each year, and its 3% fee on foreign transactions makes it a less-than-ideal option for businesses who frequently travel outside of the country.
Pros:
No annual fee
Generous intro APR/welcome bonus
High rewards rate on business categories
Cons:
Modest rewards rate on gas purchases
Spending cap on rewards
Foreign transaction fee
9. Marriott Bonvoy Business American Express Card
Annual fee: $125
Intro APR: N/A
Regular APR: 18.74% - 27.74% (variable)
Credit score needed: Good to Excellent
The Marriott Bonvoy Business American Express card is an option for businesses that have both high fuel costs and busy travel schedules. The card’s points-based rewards program allows account holders to build toward discounted hotel stays at more than 7,000 Marriott properties around the world, while reserving the right to easily transfer points to be redeemed toward air travel with dozens of airline partners. Hotel bookings with participating locations will yield 6x points per dollar spent, while 4x points can be earned on U.S. gas purchases, worldwide dining expenses, and wireless cellphone plans.
The card also comes with a welcome bonus of 100,000 points after spending $4,000 or more within the first three months of opening an account.
Unfortunately, the card does also include an annual fee of $125 per year and doesn’t feature an introductory 0% APR offering like many similar cards. Moreover, this card is unlikely to be the best option for businesses looking to turn their fuel expenses into rewards, but that have limited business travel schedules and aren’t frequent patrons of Marriott brand hotels.
Pros:
High rewards rate
Anniversary perks
Elite status
Generous welcome bonus
Cons:
Annual fee
No cashback rewards
10. CitiBusiness / AAdvantage Platinum Select Mastercard
Annual fee: $99
Intro APR: N/A
Regular APR: 18.99% - 27.99%
Credit score needed: Excellent
For businesses looking to convert their gas spending into airline miles and other American Airlines travel perks, the CitiBusiness / AAdvantage Platinum Select Mastercard has a fair amount to offer. For every $1 spent at U.S. gas stations, account holders will earn 2X AAdvantage miles, in addition to 2X miles for purchases with American Airlines, U.S. phone and cable providers, and rental car merchants, as well as 1X miles on all other eligible purchases.
The card also comes with a welcome bonus of 65,000 bonus miles after spending $4,000 within the first four months of membership. Other perks include preferred boarding, one free checked bag, no foreign transaction fees, and one companion certificate per calendar year, which allows for one eligible flight to be purchased at a fixed price of $99 plus tax.
As for the cons, the card’s rewards program is relatively inflexible, with no opportunity to earn cashback on fuel purchases or to transfer points to be redeemed toward another merchant category, making it a tough sell for businesses with minimal flight schedules. Moreover, the $99 annual fee, while seemingly reasonable, doesn’t provide the kind of luxury perks that often come with similar cards, such as access to AA’s airport lounge.
Pros:
High rewards rate and travel perks
Welcome bonus + annual companion certificate
Cons:
Annual fee
No cashback rewards
The best business travel cards cover more than just gas
While reigning in high fuel costs might be your main objective in obtaining a business travel card, there are numerous other factors that should be taken into account before making a decision. Ideally, the best business travel card will allow you to optimize all travel-related expenses relevant to your business, from converting repeated purchases into cashback rewards and cutting back on unnecessary spending, to streamlining the approval, reporting, and bill pay processes.
Here are a few additional travel expenses to consider, as well as how advanced business card solutions like Ramp’s can help you manage them more effectively.
Flights and hotel stays
While integrating a specific airline or hotel chain’s credit card in order to rack up rewards might seem like the obvious choice, these cards also often come with sizable annual fees, and you’ll likely need to travel more frequently than is necessary in order to truly realize the value of the rewards program. Moreover, integrating such a card to promote consistency or to get the best possible deal might not even be necessary, as solutions like Ramp allow you to limit an employee’s card to a specific merchant or price point.
Managing small to mid-sized fleets
Sometimes travel expenses are baked directly into your business model, as is the case with companies managing small to mid-sized vehicle fleets as part of their daily operations. When you have multiple employees out on the road incurring both necessary and unexpected costs, the compounding financial burden as well as the need to effectively track and account for each individual purchase can be overwhelming. This is why it’s so important for fleets to be supported with access to a business card that not only keeps regular costs within reason but also streamlines emergency approvals and critical accounting processes like receipt matching.
Dining and entertainment
When your employees are out on a business trip, whether locally or abroad, you need to be prepared to cover costs like dining or even a night of entertainment for the purpose of showing appreciation to an existing or potential client. But while dining and entertainment are often considered acceptable costs that fall under the umbrella of business expenses, employees can easily end up overdoing it when spending limits or venue restrictions aren’t clearly communicated. This is why it’s best to supply your employees with a business travel card that allows you to set strict controls down to the individual purchaser, vendor, or amount, eliminating overspend and minimizing the need to reimburse expenses charged to a personal credit card.
Ramp: the ultimate card for travel management
When it comes to business credit cards for gas and travel, the Ramp card is far from your traditional offering. And this is because in addition to providing small businesses and startups with the capital they need to cover travel expenses, we also provide immediate access to the tools required to manage these expenses as effectively and seamlessly as possible.
After all, access to capital and intelligent expense management practices should always go hand in hand, and without having a reliable solution to streamline accounting processes for our modern age, small businesses and startups often find themselves locked into increasingly outdated and time-consuming processes.
So what is it more specifically that makes Ramp the ultimate business card for travel management? As well as being completely free of annual fees, foreign transaction fees, or fees of any kind, the Ramp business card delivers a first-of-its-kind, holistic solution to both facilitating and managing all aspects of business travel spend:
Unlimited 1.5% cashback on all purchases
Cashback rewards on gas? Check. The Ramp card adds much-needed simplicity to modern travel rewards, allowing small businesses to earn 1.5% cashback without needing to give a second thought to categories. Moreover, Ramp doesn’t impose spending caps on rewards; if you keep spending, you’ll keep earning. It’s that simple.
Customizable spend controls
There’s no reason to risk employees overspending on travel-related purchases, regardless of the cause. This is why Ramp has created the first-ever business credit card to feature fully customizable spend controls, easily programmed and automatically enforced at the level of the individual, vendor, category, or your organization as a whole. This means individual employee cards can even be customized to only work when filling up the gas tank.
Intuitive accounting integrations
Ramp’s intuitive integrations with existing accounting tools, in addition to free access to our own solutions makes it easier than ever to manage travel expenses, no matter how complex. Automation features allow you streamline everything from bill pay to approvals and receipt matching, saving countless hours spent on manual bookkeeping tasks and dramatically reducing the possibility of human error.
Enhanced visibility and spending insights
Having an accurate view of spending across your organization is absolutely critical, but it’s even more important to know what those costs imply for the financial health of your company, as well as the effectiveness of your accounting and expense management processes. The Ramp card gives you unprecedented visibility into expenses, and most importantly provides detailed insights into your unique spending patterns across categories, merchants, and vendors, making it considerably easier to make strategic adjustments and cut costs wherever possible.
Want to learn more about how the Ramp business card can help your business optimize fuel costs, as well as transform your overall travel and expense management processes? Click here to get started.
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